NET INCOME (LOSS) PER COMMON UNIT (Tables)

12 Months Ended

Dec. 31, 2020

Net income (loss) per common unit was determined as follows:


(millions of dollars, except per common unit amounts)	2020		2019		2018

Net income (loss) attributable to controlling interests	284		280		(182)
Amounts attributable to the Class B units (a)	—		(8)		(13)
Net income (loss) allocable to the General Partner and common units	284		272		(195)
Amounts attributable to General Partner's two percent interest	(6)		(5)		4
Net income (loss) attributable to common units	278		267		(191)
Weighted average common units outstanding (millions) – basic and diluted	71.3		71.3		71.3
Net income (loss) per common unit – basic and diluted	$	3.90	$	3.74	$	(2.68)

(a) As discussed in Note 10, the Class B units entitle TC Energy to a distribution which is an amount based on 30 percent of GTN’s distributions after exceeding certain annual thresholds and Class B Reduction. The distribution will be payable in the first quarter with respect to the prior year’s distributions. There was no Class B Unit distribution declared for 2020. However, consistent with the application of Accounting Standards Codification (ASC) Topic 260 – “Earnings per share,” the Partnership allocated the Class B units distribution in an amount equal to 30 percent of GTN’s total distributable cash flows during the year ended December 31, 2019 less the threshold level of $20 million (2018 - less $20 million) and less the Class B Reduction (2019 - $4 million, 2018 - $7 million)